Common use of Liens Subordinate Clause in Contracts

Liens Subordinate. Guarantor agrees that any liens, security interests, judgment liens, charges or other encumbrances upon Borrower's assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon Borrower's assets securing payment of the Obligations, regardless of whether such encumbrances in favor of Guarantor or Bank presently exist or are hereafter created or attached. Without the prior written consent of Bank, Guarantor shall not (a) exercise or enforce any creditor's right it may have against Borrower, or (b) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (judicial or otherwise, including without limitation the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor's relief or insolvency proceeding) to enforce any liens, mortgages, deeds of trust, security interest, collateral rights, judgments or other encumbrances on assets of Borrower held by Guarantor.

Liens Subordinate. Guarantor agrees that any liens, security interests, judgment liens, charges or other encumbrances upon Borrower's ’s assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon Borrower's ’s assets securing payment of the ObligationsDebt, regardless of whether such encumbrances in favor of Guarantor or Bank Lender presently exist or are hereafter created or attachedattach. Without the prior written consent of BankLender, Guarantor shall not (a) exercise or enforce any creditor's ’s right it may have against Borrower, Borrower or (b) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (judicial or otherwise, including without limitation the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor's ’s relief or insolvency proceeding) to enforce any liens, mortgages, deeds of trust, security interestinterests, collateral rights, judgments or other encumbrances on assets of Borrower held by Guarantor.

Liens Subordinate. Guarantor agrees that any liens, security interests, judgment liens, charges or other encumbrances upon Borrower's Seller’s assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon Borrower's Seller’s assets securing payment of the Guaranteed Obligations, regardless of whether such encumbrances in favor of Guarantor or Bank presently exist or are hereafter created or attachedattach. Without the prior written consent of BankBuyer, Guarantor shall not (ai) exercise or enforce any creditor's ’s right it may have against BorrowerSeller, or (bii) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (judicial or otherwise, including without limitation the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor's ’s relief or insolvency proceeding) to enforce any liens, mortgagesmortgage, deeds of trust, security interestinterests, collateral rights, judgments or other encumbrances on assets of Borrower Seller securing payment of the Guarantor Claims held by Guarantor.

Liens Subordinate. Guarantor agrees that any Any liens, security interests, judgment liens, charges or other encumbrances upon BorrowerLessee's assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon BorrowerLessee's assets securing payment of the Guaranteed Obligations, regardless of whether such encumbrances in favor of Guarantor or Bank Lessor presently exist or are hereafter created or attachedattach. Without the prior written consent of BankLessor, Guarantor shall not (a) exercise or enforce any creditor's right it may have against BorrowerLessee, or (b) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (judicial or otherwise, including without limitation the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor's relief or insolvency proceeding) to enforce any liens, mortgages, deeds of trust, security interest, collateral rights, judgments or other encumbrances on assets of Borrower Lessee held by Guarantor.

Liens Subordinate. Guarantor agrees that any liens, security interests, judgment liens, charges or other encumbrances upon Borrower's ’s assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon Borrower's ’s assets securing payment or performance of the Guaranteed Obligations, regardless of whether such encumbrances in favor of Guarantor or Bank Lender presently exist or are hereafter created or attachedattach. Without the prior written consent of BankLender, Guarantor shall not (ai) exercise or enforce any creditor's ’s right it may have against BorrowerBorrower or any other Loan Party, (ii) create any Liens encumbering the Collateral, Borrower or any other Loan Party or any interest in either of the foregoing, other than Permitted Encumbrances, or (biii) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (judicial or otherwise, including without limitation the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor's ’s relief or insolvency proceeding) to enforce any liens, mortgages, deeds of trust, security interestinterests, collateral rights, judgments or other encumbrances on assets of Borrower or any other Loan Party held by Guarantor.

Liens Subordinate. Guarantor agrees that any liens, security interests, judgment liens, charges or other encumbrances upon Borrower's Seller’s assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon Borrower's Seller’s assets securing payment of the Guaranteed Obligations, regardless of whether such encumbrances in favor of Guarantor or Bank Buyer presently exist or are hereafter created or attachedattach. Without the prior written consent of BankBuyer, Guarantor shall not (ai) exercise or enforce any creditor's ’s right it may have against BorrowerSeller, or (bii) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (judicial or otherwise, including without limitation the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor's ’s relief or insolvency proceeding) to enforce any liens, mortgagesmortgage, deeds of trust, security interestinterests, collateral rights, judgments or other encumbrances on assets of Borrower Seller securing payment of the Guarantor Claims held by Guarantor.

Liens Subordinate. Each Guarantor agrees that any liens, security interests, judgment liens, charges or other encumbrances upon Borrower's the assets of any Borrower securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon such Borrower's ’s assets securing payment of the Guaranteed Obligations, regardless of whether such encumbrances in favor of any Guarantor or Bank Lender presently exist or are hereafter created or attachedattach. Without the prior written consent of BankLender, so long as both (a) any portion of the Debt shall be outstanding and (b) a Direct Assumption shall not have been consummated in accordance with the Loan Agreement, then no Guarantor shall not (ai) exercise or enforce any creditor's right ’s rights it may have against any Borrower, or (bii) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (judicial or otherwise, including including, without limitation limitation, the commencement of, or the joinder in, any liquidation, bankruptcy, rearrangement, debtor's ’s relief or insolvency proceeding) to enforce any liens, mortgages, deeds of trust, security interestinterests, collateral rights, judgments or other encumbrances on the assets of any Borrower held by any Guarantor.

Liens Subordinate. Guarantor NGSG agrees that any liens, security interests, judgment liens, charges or other encumbrances upon Borrower's SCS’s assets securing payment of the Guarantor NGSG’s Claims shall be and shall remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon Borrower's SCS’s assets securing payment of the ObligationsGuaranteed Debt, regardless of whether such encumbrances in favor of Guarantor NGSG or Bank Lender presently exist or are hereafter created or attachedattach. Without the prior written consent of BankLender, Guarantor NGSG shall not (ai) exercise or enforce any creditor's ’s right it may have against BorrowerSCS, or (bii) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (judicial or otherwise, including without limitation the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor's ’s relief or insolvency proceeding) to enforce any liens, mortgages, deeds of trust, security interestinterests, collateral rights, judgments or other encumbrances on assets of Borrower SCS held by GuarantorNGSG.

Liens Subordinate. Guarantor agrees that any lienslien, security interestsinterest, judgment lienslien, charges charge or other encumbrances encumbrance upon Borrower's any Obligor’s assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any lienslien, security interestsinterest, judgment lienslien, charges charge or other encumbrances encumbrance upon Borrower's such Obligor’s assets securing payment of the Guaranteed Obligations, regardless of whether any such encumbrances in favor of Guarantor or Bank presently exist or are hereafter created or attachedattach. Without the prior written consent of BankCollateral Agent, Guarantor shall not (a) exercise or enforce any creditor's ’s right it may have against Borrower, any Obligor or (b) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (judicial or otherwise, including without limitation the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor's relief or insolvency proceedingBankruptcy Proceeding) to enforce any lienslien, mortgagesmortgage, deeds deed of trust, security interest, collateral rightsright, judgments judgment or other encumbrances encumbrance on assets of Borrower any Obligor held by Guarantor.

Liens Subordinate. Guarantor agrees Guarantors agree that any liens, security interests, judgment liens, charges or other encumbrances upon Borrower's Seller’s assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon Borrower's Seller’s assets securing payment of the Guaranteed Obligations, regardless of whether such encumbrances in favor of Guarantor Guarantors or Bank Buyer presently exist or are hereafter created or attachedattach. Without the prior written consent of BankBuyer, Guarantor Guarantors shall not (ai) exercise or enforce any creditor's ’s right it they may have against BorrowerSeller, or (bii) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (judicial or otherwise, including without limitation the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor's ’s relief or insolvency proceeding) to enforce any liens, mortgagesmortgage, deeds of trust, security interestinterests, collateral rights, judgments or other encumbrances on assets of Borrower Seller securing payment of the Guarantor Claims held by GuarantorGuarantors.

Liens Subordinate. Guarantor agrees that any liens, security interests, judgment liens, charges or other encumbrances upon Borrower's Seller’s assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon Borrower's Seller’s assets securing payment of the Guaranteed Obligations, regardless of whether such encumbrances in favor of Guarantor or Bank Buyer presently exist or are hereafter created or attachedattach. Without the prior written consent of BankBuyer, Guarantor shall not (ai) exercise or enforce any creditor's ’s right it they may have against BorrowerSeller, or (bii) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (judicial or otherwise, including without limitation the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor's ’s relief or insolvency proceeding) to enforce any liens, mortgagesmortgage, deeds of trust, security interestinterests, collateral rights, judgments or other encumbrances on assets of Borrower Seller securing payment of the Guarantor Claims held by Guarantor.

Liens Subordinate. Guarantor agrees that any liens, security interests, judgment liens, charges or other encumbrances upon Borrower's Seller’s assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon Borrower's Seller’s assets securing payment of the Guaranteed Obligations, regardless of whether such encumbrances in favor of Guarantor or Bank presently exist or are hereafter created or attachedattach. Without the prior written consent of BankAdministrative Agent, Guarantor shall not (a1) exercise or enforce any creditor's ’s right it may have against BorrowerSeller, or (b1) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (judicial or otherwise, including without limitation the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor's ’s relief or insolvency proceeding) to enforce any liens, mortgagesmortgage, deeds of trust, security interestinterests, collateral rights, judgments or other encumbrances on assets of Borrower Seller securing payment of the Guarantor Claims held by Guarantor.

Liens Subordinate. Guarantor agrees that any liens, security interests, judgment liens, charges or other encumbrances upon Borrower's ’s assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon Borrower's ’s assets securing payment of the ObligationsDebt, regardless of whether such encumbrances in favor of Guarantor or Bank Lender presently exist or are hereafter created or attachedattach. Without the prior written consent of BankLender, Guarantor shall not (ai) exercise or enforce any creditor's ’s right it may have against Borrower, or (bii) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (judicial or otherwise, including without limitation the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor's ’s relief or insolvency proceeding) to enforce any liens, mortgages, deeds of trust, security interestinterests, collateral rights, judgments or other encumbrances on assets of Borrower held by Guarantor.

Liens Subordinate. Guarantor agrees that any liens, security interests, judgment liens, charges or other encumbrances upon Borrower's ’s assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon Borrower's ’s assets securing payment of the Guaranteed Obligations, regardless of whether such encumbrances in favor of Guarantor or Bank Lender presently exist or are hereafter created or attachedattach. Without the prior written consent of BankLender, Guarantor shall not (ai) exercise or enforce any creditor's ’s right it may have against Borrower, Operating Lessee or any other Loan Party, (ii) create any Liens encumbering the Properties, Borrower, any other Loan Party or any interest in any of the foregoing, other than Permitted Encumbrances or (biii) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (judicial or otherwise, including without limitation the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor's ’s relief or insolvency proceeding) to enforce any liens, mortgages, deeds of trust, security interestinterests, collateral rights, judgments or other encumbrances on assets of Borrower Borrower, Operating Lessee or any other Loan Party held by Guarantor.

Liens Subordinate. Guarantor agrees that any liens, security interests, judgment liens, charges or other encumbrances upon Borrower's ’s assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon Borrower's ’s assets securing payment or performance of the Guaranteed Obligations, regardless of whether such encumbrances in favor of Guarantor or Bank Lender presently exist or are hereafter created or attachedattach. Without the prior written consent of BankLender, Guarantor shall not (ai) exercise or enforce any creditor's ’s right it may have against Borrower, Operating Lessee or any other Loan Party, (ii) create any Liens encumbering the Properties, Borrower, Operating Lessee or any other Loan Party or any interest in either of the foregoing, other than Permitted Encumbrances, or (biii) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (judicial or otherwise, including without limitation the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor's ’s relief or insolvency proceeding) to enforce any liens, mortgages, deeds of trust, security interestinterests, collateral rights, judgments or other encumbrances on assets of Borrower Borrower, Operating Lessee or any other Loan Party held by Guarantor.

Liens Subordinate. Guarantor Principal agrees that any lienshens, security interests, judgment liens, charges or other encumbrances upon BorrowerAssumptor's assets securing payment of the Guarantor Claims Principal Claims! shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon BorrowerAssumptor's assets securing payment of the Guaranteed Obligations, regardless of whether such encumbrances in favor of Guarantor Principal or Bank Noteholder presently exist or are hereafter created or attachedattach. Without the prior written consent of BankNoteholder, Guarantor Principal shall not (ai) exercise or enforce any creditor's right it may have against BorrowerAssumptor, or (bii) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (judicial or otherwise, including without limitation the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor's relief or insolvency proceeding) to enforce any liens, mortgages, deeds of trust, security interest, collateral rights, judgments or other encumbrances on assets of Borrower Assumptor held by GuarantorPrincipal.

Liens Subordinate. Guarantor agrees that any liens, security interests, judgment liens, charges or other encumbrances upon Borrower's Seller’s assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon Borrower's Seller’s assets securing payment of the Guaranteed Obligations, regardless of whether such encumbrances in favor of Guarantor or Bank Buyer presently exist or are hereafter created or attachedattach. Without the prior written consent of BankBuyer, Guarantor shall not (a1) exercise or enforce any creditor's ’s right it may have against BorrowerSeller, or (b1) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (judicial or otherwise, including without limitation the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor's ’s relief or insolvency proceeding) to enforce any liens, mortgagesmortgage, deeds of trust, security interestinterests, collateral rights, judgments or other encumbrances on assets of Borrower Seller securing payment of the Guarantor Claims held by Guarantor.

Liens Subordinate. Guarantor agrees that any liens, security interests, judgment liens, charges or other encumbrances upon BorrowerCompany's assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon BorrowerCompany's assets securing payment of the ObligationsLiabilities, regardless of whether such encumbrances in favor of Guarantor Guarantor, the Administrative Agent or Bank the Lenders presently exist or are hereafter created or attachedattach. Without the prior written consent of Bankthe Lenders, Guarantor shall not (a) exercise or enforce any creditor's right it may have against Borrowerthe Company, or (b) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (proceeding judicial or otherwise, including without limitation the commencement of, of or joinder in, in any liquidation, bankruptcy, rearrangement, debtor's relief or insolvency proceeding) to enforce any lienslien, mortgages, deeds of trust, security interest, collateral rights, judgments or other encumbrances on assets of Borrower Company held by Guarantor.

Liens Subordinate. Guarantor agrees that any liens, security interests, judgment liens, charges or other encumbrances upon Borrower's ’s assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon Borrower's ’s assets securing payment of the Guaranteed Obligations, regardless of whether such encumbrances in favor of Guarantor or Bank Lender presently exist or are hereafter created or attachedattach. Without the prior written consent of BankLender, neither Guarantor nor any of its Affiliates shall not (a) exercise or enforce any creditor's ’s right it may have against BorrowerBorrower (b) create any Liens encumbering the Property, Borrower or any interest in either of the foregoing, other than Permitted Encumbrances, or (bc) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (judicial or otherwise, including without limitation the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor's ’s relief or insolvency proceeding) to enforce any liens, mortgages, deeds of trust, security interestinterests, collateral rights, judgments or other encumbrances on assets of Borrower held by Guarantor.

Liens Subordinate. Guarantor agrees that any liens, security interests, judgment liens, charges or other encumbrances upon BorrowerCompany's assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon BorrowerCompany's assets securing payment of the ObligationsLiabilities, regardless of whether such encumbrances in favor of Guarantor Guarantor, the Agent or Bank the Banks presently exist or are hereafter created or attachedattach. Without the prior written consent of Bankthe Banks, Guarantor shall not (a) exercise or enforce any creditor's right it may have against Borrowerthe Company, or (b) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings proceeding (judicial or otherwise, including without limitation the commencement of, of or joinder in, in any liquidation, bankruptcy, rearrangement, debtor's relief or insolvency proceeding) to enforce any lienslien, mortgages, deeds of trust, security interest, collateral rights, judgments or other encumbrances on assets of Borrower Company held by Guarantor.

Liens Subordinate. Guarantor agrees that any liens, security interests, judgment liens, charges or other encumbrances upon Borrower's assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon Borrower's assets securing payment of the Guaranteed Obligations, regardless of whether such encumbrances in favor of Guarantor or Bank presently Agent or Lenders currently exist or are hereafter created or attachedattach. Without the prior written consent of BankAgent, Guarantor shall not (ai) exercise or enforce any creditor's right it may have against Borrower, or (bii) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (judicial or otherwise, including without limitation the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor's relief or insolvency proceeding) to enforce any liens, mortgagesmortgage, deeds of trust, security interestinterests, collateral rights, judgments or other encumbrances on assets of Borrower held by Guarantor, until the entire indebtedness and all other sums due and payable under the Loan Documents have been irrevocably paid in full.

Liens Subordinate. Guarantor agrees that any Any liens, security interests, judgment liens, charges or other encumbrances upon Borrowerany of the Lessee's assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon Borrowersuch Lessee's assets securing payment of the Guaranteed Obligations, regardless of whether such encumbrances in favor of Guarantor or Bank Lessor presently exist or are hereafter created or attachedattach. Without the prior written consent of BankLessor, Guarantor shall not (a) exercise or enforce any creditor's right it may have against Borrowerany Lessee, or (b) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (judicial or otherwise, including without limitation the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor's relief or insolvency proceeding) to enforce any liens, mortgages, deeds of trust, security interest, collateral rights, judgments or other encumbrances on assets of Borrower any Lessee held by Guarantor.

Liens Subordinate. Guarantor agrees that any liens, ----------------- security interests, judgment liens, charges or other encumbrances upon Borrower's assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon Borrower's assets securing payment of the ObligationsLiabilities, regardless of whether such encumbrances in favor of Guarantor or the Bank presently exist or of are hereafter created or attachedattach. Without the prior written consent of the Bank, Guarantor shall not (a) exercise or enforce any creditor's right it may have against the Borrower, or (b) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings proceeding (judicial or otherwise, including without limitation the commencement of, of or joinder in, in any liquidation, bankruptcy, rearrangement, debtor's relief or insolvency proceeding) to enforce any lienslien, mortgages, deeds of trust, security interest, collateral rights, judgments or other encumbrances on assets of Borrower held by Guarantor.